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Bitcoin trumps all-time high 🇺🇸
BTC climbed above $75,000 as it became clear that Republican Donald Trump was going to secure his second term as U.S. president.
Stacy Elliott
November 05, 2024
📝 What you need to know
Sure, Bitcoin climbed above $75,000 for a new all-time high. But some analysts are saying that’s par for the course and less to do with Donald Trump’s victory than it is the fact that BTC had its fourth halving event in April.
CryptoQuant’s Head of Research Julio Moreno told Decrypt that other than in 2012, when Bitcoin rapidly hit an all-time high price three months after its first halving, it has since taken approximately six months to break new records following the halvings of 2016 and 2020.
“Additionally, the performance of Bitcoin has been similar to the 2016 and 2020 halving years,” he said, adding that the virtual coin is again following familiar trends.
💬 Quote of the Day
“The data implies that Bitcoin would continue to rally in November/December, given the historical seasonal patterns.”
